Commerce Bancshares Receives Consensus Recommendation of “Buy” from Analysts (NASDAQ:CBSH)
Shares of Commerce Bancshares (NASDAQ:CBSH) have been given a consensus rating of “Buy” by the nine brokerages that are covering the stock, AnalystRatings.NET reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $47.31.
Commerce Bancshares (NASDAQ:CBSH) opened at 46.13 on Thursday. Commerce Bancshares has a 52 week low of $40.0381 and a 52 week high of $47.65. The stock has a 50-day moving average of $45.52 and a 200-day moving average of $44.91. The company has a market cap of $4.227 billion and a price-to-earnings ratio of 16.62.
Commerce Bancshares (NASDAQ:CBSH) last announced its earnings results on Tuesday, July 15th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. During the same quarter in the previous year, the company posted $0.69 earnings per share. Analysts expect that Commerce Bancshares will post $2.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, September 25th. Investors of record on Friday, September 5th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Wednesday, September 3rd.
A number of analysts have recently weighed in on CBSH shares. Analysts at Zacks reiterated a “neutral” rating on shares of Commerce Bancshares in a research note on Wednesday, August 27th. They now have a $48.50 price target on the stock. Separately, analysts at Macquarie reiterated a “neutral” rating on shares of Commerce Bancshares in a research note on Wednesday, July 16th. They now have a $45.00 price target on the stock, up previously from $42.00. Finally, analysts at DA Davidson raised their price target on shares of Commerce Bancshares from $52.00 to $54.00 in a research note on Wednesday, July 16th. They now have a “buy” rating on the stock.
In other Commerce Bancshares news, EVP Kevin G. Barth unloaded 23,265 shares of the stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $46.01, for a total transaction of $1,070,422.65. The sale was disclosed in a document filed with the SEC, which is available at this link.
Commerce Bancshares, Inc is a bank holding company. Through a wholly owned bank holding company, it owns all of the outstanding capital stock of Commerce Bank (NASDAQ:CBSH).
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